Tax Software for Business
Give Uncle Sam his due (and no more than that)
If you find your tax preparation taxing, there are many kinds of tax preparation software on the market. For a full discussion of this, check out our sister site on tax preparation www.taxprep101.com, where we rate software according to seven criteria.
Tax preparation software for business involves year round planning. For small business, Quicken or MS Money manager might serve your purposes just fine. Of course, if your business has expanded to the point where you have a lot more figures to account for, you will need better tax software. Tax software can be part of your budgeting and other financial software, or you may choose a separate software package.
TurboTax for Business is a popular software suite ideal for smaller businesses. TaxCut is equally popular, and both of the se packages will suffice for many business. However, companies like Time Value and TaxWorks are also specialists in business tax and forms.
Abacus is another tax software package drawing attention by providing tax preparation for business while undercutting prices for many of its competitors.
One of the underrated or underappreciated products related to business tax preparation is the software related product, SuperFormTax Forms.
Business tax software can be integrated with other software to help reduce taxes you will have to pay. Budgeting software and forecasting software can help you make decisions that will reduce your taxes payable so that you can keep more of your profits. If paying your bills is your biggest problem then business software isn't really going to answer your needs. But if you want a grasp on your investments, portfolio decisions and complete record keeping, then business tax software might be a wise choice for you.
Good business software can sort your expenses into personal and business (taxable) costs, and calculate your taxes owing at any time. At year end, all you might need to do is click once then hit the send button.